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News - 6 March 2008
|Bank of England Governor Mervyn King - standing firm!|
Interest rates unchanged
The Bank of England's Monetary Policy Committee (MPC) has decided to keep interest rates on hold at 5.25% - a decision that was widely expected.
The Bank faces the threat of a dramatically slowing economy at a time when inflationary pressures in the UK economy are increasing.
The European Central Bank has also decided to leave its main interest rate on hold at 4% as it too tries to balance inflation and growth
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